New Zealand markets open in 3 hours 9 minutes
  • NZX 50

    11,760.01
    +7.92 (+0.07%)
     
  • NZD/USD

    0.6428
    +0.0026 (+0.40%)
     
  • ALL ORDS

    7,325.40
    +86.70 (+1.20%)
     
  • OIL

    94.40
    +2.47 (+2.69%)
     
  • GOLD

    1,803.50
    -10.20 (-0.56%)
     

Why Shares of UWM Holdings Are Surging Today

·2-min read
Why Shares of UWM Holdings Are Surging Today

Shares of the mortgage originator UWM Holdings (NYSE: UWMC) had jumped more than 22% as of 10:57 a.m. EST after the company said it had decided not to go through with a planned secondary offering. UWM also said that it would "accelerate" its previously announced share repurchase program. Earlier this week, UWM announced a secondary offering in which its controlling shareholder would sell 50 million common shares, which sent shares tumbling.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting